The bank Guarantee has not been asked at the closing but 4 months before and it was accepted by the parties.
Extract from the final agreement between Alstom and Bombardier (september 2020):
12 Guarantees
12.1 Claims Indemnity.
Prior to the Completion Date and as soon as possible after the date hereof, the B Seller shall, at its own cost, enter into a first demand guarantee, to be governed by French law, with an international reputable bank acceptable to the Buyer which will guarantee any and all Relevant Claims from the Buyer (the Relevant Claim Bank Guarantee), it being provided that all terms of the Relevant Claim Bank Guarantee shall be approved by the Buyer and that: (a) such Relevant Claim Bank Guarantee shall be callable at the full discretion of the Buyer following the request from the Buyer, it being provided that the Buyer shall be entitled to call the Relevant Claim Bank Guarantee after (i) having notified the Relevant Claim to the B Seller and (ii) having received an order, judgment, direction, formal injunction, formal injunction from any Governmental Authority, court or arbitral body having competent jurisdiction on the Relevant Claim;
(b) the Relevant Claim Bank Guarantee shall be capped at XXXXX ;